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Fly News Breaks for March 3, 2017
PCAR, DE, CAT
Mar 3, 2017 | 09:16 EDT
BofA Merrill Lynch analyst Ross Gilardi expects Caterpillar (CAT) shares to stabilize after yesterday's 4% selloff on the news that law enforcement authorities raided several of its facilities, but also sees the raid as creating some new uncertainty. The analyst, who thinks the raid was likely due to a company specific issue, keeps a Neutral rating on Caterpillar and continues to prefer Deere (DE) and PACCAR (PCAR), on which he has Buy ratings.
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